SAN FRANCISCO, Nov. 6, 2024 — Parallel Fluidics, an innovator in on-demand microfluidic manufacturing solutions, has raised $7 million in seed funding to accelerate the development of its cutting-edge technologies, with a focus on improving IVF and other life science applications. The funding round was led by J2 Ventures, with additional support from 8VC and Praxis.
Parallel Fluidics is making significant strides in the fertility sector, where its technology is already being leveraged by Overture Life, a startup committed to simplifying IVF procedures. Overture Life is using Parallel Fluidics’ latest advancement, the MV-2 microvalve, to improve flow control in their next-generation IVF systems, allowing for greater precision and efficiency in reproductive medicine.
“Precise fluid control and efficient management of sensitive biological samples are essential in advanced fertility treatments like IVF,” said Lionel Matthys, Chief Product Officer at Overture Life. “Parallel Fluidics’ microfluidic systems are addressing this challenge, enabling faster, more reliable processes that enhance patient outcomes and fuel innovation in reproductive care.”
The microfluidics market is rapidly expanding, currently valued at $32 billion and projected to grow to $117.13 billion by 2031. This technology allows life sciences companies to conduct tests at microscopic scales, increasing the precision, speed, and throughput of experiments and applications across multiple disciplines.
Jon Bronson, PhD, Managing Partner at J2 Ventures, emphasized the importance of Parallel Fluidics’ contribution to the industry: “Scientists and engineers working on the next generation of life science technologies shouldn’t have to waste time reinventing the wheel when it comes to microfluidic systems. Parallel Fluidics is making a significant impact with its on-demand microfluidic manufacturing services, delivering production-ready devices in as little as three days. This dramatically accelerates R&D timelines while mitigating common development risks.”
The company plans to use the newly secured funds to expand its on-demand design and manufacturing platform, develop new hardware and software solutions, and commercialize its latest innovation, the MV-2 microvalve. This microvalve allows devices to be used at the point of care, such as in doctor’s offices, clinics, or hospitals, rather than being limited to laboratory settings.
Josh Gomes, CEO and co-founder of Parallel Fluidics, explained, “Many life science teams face challenges in engineering and manufacturing that are unrelated to their novel technologies, such as flow control and automation. At Parallel Fluidics, we are committed to helping these teams overcome these obstacles and create scalable, reliable products that can accelerate disease identification and the development of more effective treatments. With this funding, we’ll scale up our manufacturing services, expand our hardware library, and advance the software tools needed to power the next generation of life science solutions.”
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